Mr Michael Keith Sun (R)
On 18 January 2016, the Jersey Financial Services Commission received information that Mr Michael Sun no longer resides at the address noted in the Public Statement below. The Commission is unaware of Mr Sun’s current residential address.
Public Statement
Mr Michael Keith Sun (“Mr Sun”)
Of: 2 Le Clos De Noirmont, St Brelade, Jersey, JE3 8AP
Financial Services (Jersey) Law 1998, as amended (the “Law”)
The Jersey Financial Services Commission (the “Commission”) issues this public statement under Article 25(a) of the Law.
Following an investigation into the fitness and propriety of Mr Sun in his conduct whilst acting as the Managing Director of Centurion Management Services Limited, it appears to the Commission to be reasonable and necessary to issue Mr Sun with directions under Article 23 of the Law preventing him from engaging in any employment with any registered person as defined under the Law or performing any function or service which falls within the definition of "financial services business" under Article 2 of the Law without first having applied for and obtained the prior written approval of the Commission. Mr Sun has been issued with equivalent directions under each of the other regulatory laws.1
The directions shall remain in force until such time as Mr Sun satisfies the Commission that there are no longer any grounds justifying the directions, in which case the directions may be withdrawn or varied.
Mr Sun will commit an offence, under Article 23(15) of the Law, in the event that he obtains employment with a registered person without having obtained the Commission's prior consent, or until such time that he successfully applies for a variation or withdrawal of the directions. Any person with information to indicate that such an offence has been committed is asked to contact the Commission.
Under Article 23(15A) of the Law, any person who allows Mr Sun to perform a function or service, engage in employment or hold a position knowing that such performance, engagement or holding is in contravention of the above mentioned direction shall be guilty of an offence.
Jersey Financial Services Commission
14 - 18 Castle Street
St. Helier
Jersey
JE4 8TP
Contact: Deborah C Sebire - d.sebire@jerseyfsc.org
1 March 2010
1The Collective Investment Funds (Jersey) Law 1988, as amended
The Insurance Business (Jersey) Law 1996, as amended
The Banking Business (Jersey) Law 1991, as amended